AlwaysFree: Hapag-Lloyd To Freeze Spot Rate Increases

Hapag-Lloyd said it would freeze any increases in spot rates and limit steep rises in premiums and other surcharges. This follows a similar step taken by CMA CGM, which plans to suspend spot rate increases until February 1, 2022. The German container carrier, however, did not disclose the time period of its price increase freeze. Freight rates have skyrocketed amid supply chain blockages and a global container shortage due to the COVID-19 pandemic. The price increase halt provides shippers with some relief, although it would not immediately solve all challenges in the global shipping market.